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- 0% p.a. on balance transfers for 6 months.
- 11.49% p.a. on retail purchases.
- Access to limited edition entertainment experiences through Visa Platinum Privileges.
- Access to Visa Concierge that gets you anything at anytime.
- Special Offers and Privileges with discounts.
- Complimentary International Travel Insurance, purchase cover and extended warranty.
- Full terms and conditions.
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|
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| Purchase Rate |
Balance Transfers |
Card Type |
Annual
Fee |
Interest Free |
| 11.49%p.a |
0%p.a 6 months |
Visa |
$99 |
up to 55 days |
|
CREDIT CARDS 2010 AUSTRALIA
The outlook for the credit card industry for 2010 will be an improvement on 2009. The economic crisis was hard felt within the Australian financial sector, forcing credit card providers to implement a more conservative approach to their credit card products. 2009 brought a reduction in federal interest rates, to help stimulate the Australian economy, as a result the majority of credit card providers slightly increased credit card interest rates at approximately 0.5% for cash advances and purchases. In 2010 we will keep a close eye on the what direction the credit card rates will take.
One thing is for certain in 2010 is that Australians will get to choose from a wider range of credit card balance transfer offers. Due to the competitive nature of the credit card industry, balance transfer deals are ripe for the picking. Offers can range from 0% for 6 months to 4.9% for life. In 2010 it will be very unlikely that you will see a credit card without some type of balance transfer offer attached. As an Australia credit card consumer you can save yourself some cash in 2010 if you shop around and compare multiple balance transfer offers, in order to get the best credit card balance transfer fro you.
2010 is also the year for low annual fees on credit cards. As Australians are becoming better educated on the fees and charges associated with credit card usage, providers are also becoming more aware, that as Aussies we will be more likely to sign up for a credit card with a low annual fee and low percentage rate. There for in 2010 we will more credit cards that offer you a low or no annual fee.
Better rewards for your money. 2010 will see the credit card industry offering reward programs that are tailored to your needs. Marketing experts are increasingly creating exciting rewards and bonus points programs, partnering up with big name organizations that give you the best value for your bonus points. David Jones, Myers, Cole's, Woolworth's and BP just to name a few, if you like to shop at a certain store then in 2010 there is a pretty good chance that there is a credit card that offers you bonus points.
CONSIDERATIONS BEFORE APPLYING FOR A CREDIT CARD
There are many reasons for and against applying for a new credit card offer.
- Credit cards give you the option of paying for an item you want now and paying it off at a later time.
- Helping Establish a good credit history can be done with responsible use of a credit card.
- You can shop online, book reservations, or make payments over the telephone.
- Some credit cards offer rewards such as, frequent flyers, shopping benefits, cash back and more.
Some reasons that you may not want to apply for a new credit card are:
- Credit card debt has to be paid back at an interest rate ranging from around 10 to 20 percent.
- Temptation of purchasing products that you can not afford.
- The accumulation of credit card debt.
- Stress of trying to make monthly repayments.
- Annual fees and late payment charges.
If you feel that credit card debt is effecting your everyday life then go to the Financial Survival Guide for more information.
CHEAP CREDIT CARD - IS THERE SUCH A THING?
The term cheap credit card can be applied when individuals use a card responsibly. The factors than can classify a credit card offer as cheap can include, purchase and cash advance interest rate, annual fees and charges, balance transfers and cash back rewards. If you are looking for a cheap credit card deal, then be sure to carefully compare all the offers available to you online.
BALANCE TRANSFER CREDIT CARDS
Balance transfer offers allow you to transfer the credit card balance from your current credit card, to a new credit card offer (normally at a lower rate of interest). For example you may have a credit card with $2000 owing with an interest rate at 20%, you may opt for a balance transfer deal that gives you 0% interest for 6 months. If you pay off the $2000 in within 6 months you would have saved on the interest that you would have paid on your old credit card, plus could be paying as little as around 11% for future purchases depending on your new credit card features. A small fee normally is associated with a balance transfer, so check with the providing credit card issuer for exact fees and charges.
Balance transfer credit card offers are worth while, if you are sure you can pay the outstanding amount in the period allocated. If you do not pay off your debt within the special introductory period, then the outstanding amount normally reverts to a cash advance percentage, on average this is around 20%. If you have a large amount of credit card debt from multiple cards then a balance transfer may not be right for you. For help with excessive credit card debt go this financial government web site for further information.
FEATURES OF THE BEST CREDIT CARD OFFERS
There are many qualities that go into making the best credit cards. The best credit cards come with a low interest rate on purchases and cash advances, a low percentage balance transfer offer for an extended period of time, rewards for paying your credit card bill on time, a low or no annual fee, good customer support, easy to read credit card statement, an extended interest free period and more.
In order to get the best credit card deal for you, it is vitally important that you shop around and compare as many credit cards as possible. Today in Australia there are many types of credit card providers, offering you a variety of features over a vast range of credit cards. There for selecting the best credit card offer can be a difficult task. As with all financial decisions you should seek the guidance of a qualified finance expert to help you on your way with choosing the best credit card for you.
CREDIT CARDS AND AUSTRALIA
Unlike our counter parts in the United States, Australia has had strict laws in place to sustain the credit card industry and protect consumers from over committing to debt. The Australian government regulates credit cards with a strict set of guidelines and spends countless resources to enforce that these rules are followed. These strong set of regulations have helped Australia recover from the economic crisis in a speedier manner than most other countries in the world. To find out more about Australian credit card regulations and how you are protected check out the government understanding money web site.
REWARD CREDIT CARD INFORMATION
In order to get the best reward credit card offer for you, it is important to understand the difference between the types of rewards you can receive.
- Airline Rewards - When you have enough frequent flyer points accumulated you are able fly on certain airlines for free or at a discounted rate. You can also receive other travel benefits such as travel insurance, car hire, hotels and holiday packages.
- Shopping Rewards - Shopping reward credit cards give you bonus points when you shop at certain outlets and pay the outstanding amount on your credit card bill. Your loyal shopping can land you shopping discount vouchers or cash back.
- Petrol Rewards - if you are looking for discounted fuel, some credit cards offer you a petrol rewards program that you can use to save with your fuel bill.
*Disclaimer - This website and the information contained within it, is intended as a comparison tool to obtain information on financial products in Australia. The contents of the website should not be taken as professional advice, or recommendation of any product or service offered by the companies providing such products and services. Credit Card City features a small proportion of the total credit cards in Australia. Credit Card City receives commissions from 3rd party affiliates.